Locked content Brokerage firms’ profit doubles in Q1 2018 – KNF

Brokerage firms recorded net profit of PLN 102.16 million in Q1 2018, up from PLN 54.02 million in the first quarter of the previous year, the Financial Supervision Authority (KNF) stated. Operational profit stood at PLN 115.68, compared to PLN 75.1 million a year earlier. Revenue from brokerage dec...

Alior Bank appoints new president

The Polish Financial Supervision Authority has unanimously agreed to appoint Katarzyna Sułkowska to the position of President of Alior Bank, the Commission announced on Tuesday.

Locked content KNF suspends four WSE-listed companies

Financial Supervision Authority KNF asked Warsaw Stock Exchange to suspend trading of Graviton Capital, Indygotech Minerals, Lark.pl and Ursus from Friday. KNF states the companies failed to publicly disclose, within the time-limits laid down by law, annual reports for the financial year 2017 or pro...

Locked content KNF fines PZU for PLN 1.7 mln

Financial Supervision Authority KNF slapped WSE-listed insurer with a PLN 1.7 million fine for delays in granting and paying out claims or not reporting obligations. According to Polish insurance regulations, the company has to pay compensation within 30 days, counting from the day the injured party...

Locked content KNF suspends Hawe trading on WSE indefinitely

The Financial Supervision Authority KNF unanimously imposed PLN 700,000 fine on WSE-listed telecommunications infrastructure firm Hawe and suspended its trading on the Warsaw bourse indefinitely. The exclusion is a result of the repeated infringement by Hawe of the Public Offering Act, including thr...

Locked content KNF head: merging KNF with NBP in politicians hands

The draft law on the integration of the KNF with the NBP was prepared more than a year ago and is still waiting for a political decision said the president of the Financial Supervision Authority KNF Marek Chrzanowski. He added that integration would guarantee independence for supervisors, especially...

KNF: insurers with PLN 5.69 bln profit in 2017

Net profit of insurers operating on the Polish market increased to PLN 5.69 billion in 2017 compared to PLN 4.09 billion a year earlier. Gross written premiums amounted to PLN 62.35 billion compared to PLN 55.88 billion a year earlier, the Financial Supervision Authority (KNF) reported.

Locked content KNF approves OncoArendi IPO prospectus

The Financial Supervision Authority approved the IPO prospectus of a biotechnological firm OncoArendi Therapeutics, which specializes in oncological pharmaceuticals. The company plans to offer 500k-2 million new shares under its IPO planned for the turn of March and April, the company said. “The com...

Locked content KNF recommends banks pay 75-100% of profits in dividend payouts

Financial Supervision Authority KNF said that it recommends banks to pay out 75-100 percent of its profits in dividends in the medium term. Full dividend payout ratios will be allowed for banks that would fulfill the same criteria even in a stress test scenario, the KNF said in a confirmation of cur...

Locked content Bank tax reached PLN 3.6 bln in 2017 – KNF

The value of the banking tax paid by lenders last year amounted to PLN 3.63 billion, the Financial Supervision Authority said. “Last year, banks made a profit of PLN 13.6 billion. This is 2.3 percent lower than the year before however, this difference is primarily due to a one-off sale of shares Vis...